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Rating:Not Every Cowboy Can Ride This Bull Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 21, 2014

Not Every Cowboy Can Ride This Bull

News summary by MFWire's editors

The five-year bull market has been a great ride, but not for everyone.

For instance, Morningstar analyst Greg Carlson writes about three stock-picking funds that have seen a few missteps and have taken a beating in flows as a result.

The funds are:
1. The Thornburg International Value fund that has trailed 90 percent of its peers year-to-date and has suffered $6.9 billion in outflows so far this year.
2. The GMO Quality fund, which trailed more than 80% of its category peers in 2009, 2010, 2012, and 2013, and it sports a similar category ranking for the trailing five years, according to Carlson. It has seen $2.6 billion it outflows this year.
3. The Perkins Mid Cap Value fund, which trailed more than two thirds of its mid-value peers in 2009, 2010, 2012, and 2013. It experienced $2.4 billion in outflows in 2014.

Carlson gives a number of reasons for the performance woes of these funds, including strategic missteps and tailwinds.

However, these funds still garnered fairly respectable Analyst Ratings: the Thornburg and GMO funds with Bronzes (they were downgraded) and the Perkins with a Silver (also downgraded).

They aren’t alone. Money reports that a number of stock-pickers made mistakes this year choosing popular stocks that underperformed the S&P 500, with the stocks gaining 6% to the index’s 8%. Meanwhile, unpopular stocks gained 10%.  

Edited by: Tommy Fernandez


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